AGM and Interim Management Statement

RNS Number : 7169B

Spectris PLC

20 April 2012

 



Date: 20 April 2012

SPECTRIS PLC: AGM AND INTERIM MANAGEMENT STATEMENT

Spectris plc issues the following Interim Management Statement, covering the period from 1 January 2012 to date, ahead of its Annual General Meeting to be held later today.

TRADING UPDATE

Reported sales for the three months ended 31 March 2012 (the "period") were 21% higher than the comparable period last year, including a contribution from acquisitions of 15% and a positive currency effect of 1%. On a constant currency organic (like-for-like) basis, sales increased by 5%.

Regionally, on a like-for-like basis, sales to Asia Pacific during the period increased by 7%, North America grew by 7% and Europe was up by 2%.

ACQUISITIONS AND FINANCING UPDATE

Integration of the Omega Engineering business, acquired in 2011, is on track and the business continues to perform well.

There were no significant events or transactions during the period which had a material impact on the financial position of the group.

Net debt reduced by £33 million to £323 million at 31 March 2012.

OUTLOOK

Spectris has made a good start to 2012 although growth rates have, as expected, moderated following the strong recovery in 2011. Nevertheless, the Board is confident that, as a result of continued investment in new products and applications, together with the growth opportunities and resilience which our recent acquisitions provide, Spectris remains strategically well positioned for the remainder of the year.

Spectris will publish its interim results on 27 July 2012.

A conference call for analysts and investors will be held at 07.45 (UK time) today to discuss this statement. To access the call, please dial [phone], passcode 638392#.

ENDS

ABOUT SPECTRIS

Spectris plc is a leading supplier of productivity-enhancing instrumentation and controls. The company's products and technologies help customers to improve product quality and performance, improve core manufacturing processes, reduce downtime and wastage, and reduce time to market. Its global customer base spans a diverse range of end user markets.

Spectris operates across four business segments which reflect the applications
and industries it serves: Materials Analysis, Test and Measurement,
In-line Instrumentation and Industrial Controls. Headquartered in Egham, Surrey,
the company employs around 7,500 people, with offices in more than 30 countries.

For more information, visit www.spectris.com

Copies of this announcement are available from the company's registered office at

Station Road, Egham, Surrey TW20 9NP and on the company's website at www.spectris.com

Contacts:
Spectris plc
John O'Higgins, Chief Executive	01784 470470
Clive Watson, Group Finance Director	01784 470470
FTI Consulting
Richard Mountain	020 7269 7186

 

END

 

 

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